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Revolution Bars a takeover target after shares' decline

The bar group has been approached by pub company Stonegate for a potential takeover, following a heavy share price fall earlier this year
August 2, 2017

Perhaps Revolution Bars' (RBG) drastic share price fall has made it more susceptible to takeover offers. Stonegate Pub Company has made a possible offer for the bar group at 200p cash per share, the same price that Revolution Bars listed at in 2015. This values the company at £100m. That's a 60 per cent premium to the closing share price on the day the offer was announced, but a 15 per cent discount to Revolution’s 12-month high.

IC TIP: Hold at 180pp
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